ProShares Ultra DJ-UBS Crude Oil Crosses Below its 10-day MA (UCO)
ProShares Ultra DJ-UBS Crude Oil (NYSE:UCO) crossed under its 10-day moving average of $34.98 on a volume of 644K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
ProShares Ultra DJ-UBS Crude Oil share prices have moved between a 52-week high of $40.02 and a 52-week low of $24.75 and are now trading 40% above that low price at $34.67 per share. The 200-day and 50-day moving averages have moved 0.28% higher and 0.78% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of ProShares Ultra DJ-UBS Crude Oil on January 22nd, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.53. Since that recommendation, shares of ProShares Ultra DJ-UBS Crude Oil have risen 16.0%. We continue to monitor UCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses proshares ultra dj-ubs crude oil